Quarterly report pursuant to Section 13 or 15(d)

Goodwill (Tables)

v3.22.2
Goodwill (Tables)
6 Months Ended
Jun. 30, 2022
Schedule of Changes in Goodwill
The following table presents the changes in goodwill including business acquisitions discussed in Note 3 of our Condensed Consolidated Financial Statements.
 
Goodwill
   Twelve Months Ended
December 31, 2021
    
Six Months Ended
June 30, 2022
 
    
(Dollars in thousands)
 
Balance, beginning of period before cumulative loss on impairment,
   $ 28,520     
$
28,749
 
Accumulated loss on impairment
     (4,763     
(4,763
)
 
    
 
 
    
 
 
 
Balance, beginning of period after cumulative loss on impairment
     23,757       
23,986
 
    
 
 
    
 
 
 
Acquisitions of radio stations
     4       
  
 
Acquisitions of digital media entities
     225       
2
 
Loss on impairment
     —         
(127
)
 
    
 
 
    
 
 
 
Ending period balance
   $ 23,986     
$
23,861
 
    
 
 
    
 
 
 
Balance, end of period before cumulative loss on impairment
     28,749       
28,751
 
Accumulated loss on impairment
     (4,763     
(4,890
)
 
    
 
 
    
 
 
 
Ending period balance
   $ 23,986     
$
23,861
 
    
 
 
    
 
 
 
Broadcast Markets Enterprise Valuations [Member]  
Schedule of Assumptions Used
The key estimates and assumptions used for our enterprise valuations were as follows:
 
Broadcast Markets Enterprise Valuations
   December 31, 2021  
June 30, 2022
Risk-adjusted discount rate
   8.5%  
9.5%
Operating profit margin ranges
   (1.4%) – 15.0%  
(7.8%) – 15.0%
Long-term revenue growth rates
   0.4%  
0.4%